HSBC has launched its HSBC AI Global Tactical Index, powered by Amazon Web Services (AWS).
The HSBC AIGT Index was developed by the bank and utilises the AI from AWS to carry out an AI-based index investment process.
Furthermore, the solution gets AWS AI services to analyse and learn from data thousands of times faster than humans. This also enables the index to automatically adapt and evolve its approach as market dynamic shift.
Ibexis Life & Annuity Insurance Company is the explusive provider of HSBC AIGT in its suit of fixed indexed annuities. Utilising what it has learned, HSBC AIGT employs a rules-based investment strategy that uses advanced techniques in AI and machine learning.
“Successful investment strategies of the future require the ability to analyze and learn from the growing amount of data, and react quickly to changing market conditions,” said Dave Odenath, global head of quantitative investment solutions at HSBC Global Banking and Markets.
“HSBC AIGT puts the power of an adaptive AI system fuelled by data into a global tactical allocation framework, creating a systematic investment strategy that is designed to keep up with and thrive in increasingly complex markets.”
“Using AWS artificial intelligence and machine learning capabilities for the HSBC AI Global Tactical Index, HSBC is meeting the industry’s evolving needs as it continues to develop innovative solutions for the investment community,” continued Scott Mullins, managing director, worldwide financial services business development at AWS.
“We are excited to collaborate with HSBC across their machine learning initiatives powered by AWS.”
Nate Gemmiti, CEO & president of Ibexis, added: “Ibexis is excited to launch its fixed indexed annuity with a crediting strategy linked to the HSBC AIGT. We seek to offer very attractive annuity products for individuals that desire financial security during retirement. We believe offering individuals access to the HSBC AIGT strategy helps fulfil this goal.”
HSBC Global Private Banking also launched an AI-powered structured product, linked to the Artificial Intelligence Powered Global Opportunities Index, for clients in Asia.
Developed by HSBC and EquBot, AiGO8 is a rules-based investment strategy combined with IBM Watson’s AI machine, as well as other technologies. These help turn data into investment insights and forecast techniques to enhance asset allocation.